Zodia Custody Partners with OpenEden to Bring Yield on Digital Assets to Institutions
Zodia Custody, a crypto entity owned by Standard Chartered Bank, has teamed up with Singapore-based digital asset platform developer, OpenEden, to offer yield on digital assets to institutional clients. This collaboration comes shortly after Zodia launched its crypto custody services for financial institutions and banks in Singapore.
Accessing Off-Chain Yield Potential
The partnership between Zodia Custody and OpenEden will enable institutions to access off-chain yield potential for their on-chain assets. The CEO of Zodia Custody, Julian Sawyer, believes that many benefits from the traditional finance world can be transferred to digital assets. However, the challenge lies in doing so safely and in compliance with regulations. This partnership is a step towards achieving that goal by providing clients with access to yield products.
Enhanced Assurance and Real-World Yield
Zodia promises added assurance to investors by offering safe cold storage for their custodied assets. Moreover, institutions will have the opportunity to benefit from real-world yield from US Treasury bills through OpenEden’s platform, which ensures on-chain security and transparency.
“There are billions of dollars’ worth of stablecoins sitting on the sidelines when they could easily be generating yields for investors,” said Jeremy Ng, co-founder of OpenEden. “That’s a huge opportunity that we and Zodia Custody aim to bring to institutions through our respective service platforms. This will allow issuers and investors to enter the digital asset market using tokenized financial products in a safe and transparent manner.”
Hot Take: Unlocking Yield Potential for Institutional Investors
Zodia Custody’s partnership with OpenEden presents an exciting opportunity for institutional investors to unlock yield potential on their digital assets. By accessing off-chain yield through a compliant and secure platform, institutions can generate returns on their investments while ensuring the safety and transparency of their assets. This collaboration reflects the growing interest in bridging traditional finance with the world of digital assets, opening doors for further innovation and adoption in the industry.
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